"Rob McEwen can not control Gold, Silver or Copper prices, but he can control the management of his company. McEwen Mining has delivered solid results in the very tough environment and shows very entrepreneurial approach to advance its business plan.

Among other positive developments we would like to mention ongoing exploration on a number of projects and combination of the McEwen Mining and Hochschild Mining properties around San Jose Mine in Argentina; received environmental permit for El Galo 2 in Mexico and 10 million in tax return from Mexico in addition to the reported cash position.

Very strict cost control in mining and production and, particularly, in the new projects development demonstrates the solid potential of Rob's team. Higher Gold and Silver prices will help to ignite this story again, but Los Azules development is potentially the most explosive value driver with the right amount of effort on its marketing now. Today's perception of country Risk can be the main valuation driver tomorrow."

"With Chinese economy in the recovery mode quest by Chinese companies for the best mining assets is ongoing worldwide. Lumina Copper is getting some bids today again and Los Azules copper will be getting on the investors' radar screens with the changing political landscape in Argentina again."

In September, McEwen Mining announced an updated PEA for the Los Azules Copper project. The results from the PEA demonstrate that Los Azules has the potential to become one of the largest, lowest cost copper mines in the world. In addition, there remains excellent exploration potential to further expand the size of the existing mineral resource. Highlights from the PEA are shown below:

Annual copper production during years 1-5 to average 258,000 tonnes (568 million lbs), which would have placed it in the top 3%1 of copper mines in the world during 2012. Life of mine annual copper production to average 171,000 tonnes (377 million lbs) over 35 years.

Indicated resource of 5.4 billion pounds of copper (grading 0.63% Cu) and 0.8 million ounces of gold (389 million tonnes with a cut-off grade of 0.35% Cu) and Inferred resource of 14.3 billion pounds of copper (grading 0.46%) and 2.6 million ounces of gold (1,397 million tonnes with a cut-off grade of 0.35% Cu).

Initial capital costs to construct the mine and process plant have been estimated at $3.9 billionwith a payback on a pre-tax basis has been estimated at 3.8 years at $3.00/lb copper and$1,300/oz gold.

1 Based on internal market data.

The PEA is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the PEA will be realized.

The PEA has been filed under the Company's profile on SEDAR (www.sedar.com) pursuant to the requirements of Canadian National Instrument 43-101 and is also available on the Company's website - www.mcewenmining.com."

All slides are from McEwen Mining presentations.

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Dedicated to all those brave men who have been fighting the bear market in 2000 and buying the dips without understanding that they were looking straight into the abyss. Do not trust your money in anybody, for you are the one who is going to be rich or poor, not those that are advising you: always do your DD. Disclosure: We are putting our money where our mouth is.